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tv   After the Bell  FOX Business  August 15, 2018 4:00pm-5:00pm EDT

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great information in a short amount of time. really appreciate it. ross. thank you. [closing bell rings] dow closing down six of the last seven sessions. nasdaq, three out of four. we made it lower. david and melissa are next. david: the dow clawing back about 200 points. it is still down. it is still down triple digits, 136 but we were down as much as 334. amazing chart earlier in the session. it is red for the s&p 500 and the nasdaq both ending off of session lows. it was a comeback story today. hi, everybody, i'm david asman. melissa: aisle melissa francis. this is "after the bell." we have more on market movers. here is what we're covering in this very busy hour ahead. an unexpected announcement from the white house press briefing today. sarah sanders just revealing president trump pulled the security clearance of former cia director john brennan. what this move means for the
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rest of the intelligence community. plus escalating tensions between the united states and turkey. a turkish court rejecting an appeal for the release of an american pastor. we are live at the white house with the latest details. elizabeth warren taking on corporate america. the senator's latest hit on the private sector and what it could mean for the economy. this hour we're going to speak with senate candidate jeff diehl who is hoping to challenge senator warren in november. david: what about warren's manifesto. more on that to come. back to the markets. the dow cuts losses more than half in the final hour of trading t was dragged down by shares of chevron, boeing and caterpillar. phil flynn watching oil and gold from the cme and nicole petallides from the floor of stock exchange. nicole what turned things around? >> we saw winners which included drugs. financials came off the low.
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help from turkey a little bit, from qatar, 15 billion. that helped turn it around and support level for subpoena 500 at 2800. it got down to 2802. that they would hold that, bounce off of that. managed to hold the technical numberas well. watching china, turkey, the strong dollar. but it was energy, industrials, materials, metals that came under pressure. there is a look at the turkish lira which gained some strength recently. as you know, it had been selling off for some time, weeks in fact. so let's look at macy's. macy's beat but there were concerns about the sales numbers. there was some decline there. freight costs going forward will cut into margins. the stock dropped 16%. a big move to the downside for macy's. turn that around because let's look at chipotle. we can see that moved higher, overweight from equal weight at
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morgan stanley. why? the management changes number one. brian nickel that came over from taco bell has been doing marketing and product development and is turning this company around. they put a $600 price target. uber, as well, thanks to you, second quarter sales rose 63%, narrower loss of 891 million from over a billion a year ago. not profitable yet. going public in 2019. they do have to deal with the recent cap put in place in new york city but the future lies with, in addition to their cars, food delivery, scooters, some high potential markets which include middle east and india. big news out of uber. watch for that to go public. melissa: i'm surprised they're not profitable. i don't know anyone who doesn't uber. david: i don't. i don't. melissa: david proves me wrong again. thanks, david. phil, oil down more than 3% today. that is a pretty big move. >> it's a huge move. we had a huge build in crude oil
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inventories. this is amazing. saw 6.8 million-barrel increase in crude oil supplies the same week u.s. refiners ran more crude through the refineries than they ever have before. how is that possible? we're getting impact from the strong dollar. u.s. refiners look around the world, hey, we've got a strong dollar. that oil from overseas looks really cheap. we'll buy a whole bunch of it. they increased u.s. crude oil imports by over a million bears a day. that's pretty incredible. it didn't help the precious metals at all today. precious metals of course are still getting caught up in the concerns about turkey, copper in a bear market, dollar higher. bad day for the metals. back to you. melissa: phil, thank you. david: let's bring in today's market panel, todd horowitz, the host of bubba trading show and heather zumarriaga from vision four. good to see you both. todd, we turned a horrible 300 point loss, 330 points, into not
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so bad loss of 337. what happened? >> hi, david. i think what happens, if you let markets trade they sold off. there was pressure in the morning and of course the way markets have been acting last 10 years, markets dip down, buyers step in, they buy it up. apple, couple others had nice performances and right now the markets are still strong. we're fretting about all the things around the globe, meantime we're in couple percentage points of all-time highs. i can't be worried about it. the market continues to go higher. david: heather, let's be specific about turkey. i think what the market is saying turkey can be contained. is the market right? >> i think turkey is a immediate impact is, has been minimal. they are a small part of the global economy. however at least in my industry, investors who buy mutual funds are tied in the efci or marriage marriage index, for example,
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they're selling them, selling other companies other than turkey. that is where you see contagion and spillover happen. other countries like south africa or indonesia which have minimal economic ties to turkey, china dominates the msci, upwards 30% of that index, i know that is being hit for other reasons such as slowdown in tariffs but it is also being hit because retail investors want to get out of any emerging market exposure because of turkey. that is kind of a potential contagion for the u.s. melissa: stay with us. sec is ramping up the investigation into tesla following elon musk's tweet on taking the company private. charlie gasparino has been breaking news on the story all day long. charlie, what is the latest? >> what we have now are subpoenas. we should point out when mr. musk put out the tweet which said he wants to to private, take tesla private, i guess a $70 billion deal, something at
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$420 a share, he said in the same tweet, funding secured. which usually makes people think you have the papers drawn up, the banks lined up, sovereign wealth funds writing you the check. there is some question whether that is essentially the case in the days following that tweet which was put out on august 7th. what we have the se c-ramping ups it investigation or scrutiny of the tweet whether it is materially faust. we were the first to report this, the fox business network learned that tesla received subpoenas from the sec about the veracity and the materiality and truthfulness of that tweet. the investigation has gone from informal inquiry where the sec calls up company officials which they initially did, which was previously reported, which was not previously reported now, subpoenas and a formal inquiry by the sec. so the question is, what could happen to mr. musk? first of all if he is just under investigation, there is to finding of guilt just yet, i think they're going to, they're
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going to be very watchful, make sure they have a case before bringing a case against elon musk, a serious one. they know he is pretty es -- existential to the stock and to the company they don't want anything to happen to the company. maybe mr. musk can not use twitter. melissa: get the heck off of twitter. >> from company announcements to a big fine. way out, a possibility, i'm not saying it will happen, a banning from the securities business, something along the lines of you can't be a ceo, a director or a senior executive. i mean maybe he can -- something along the lines what happened with martha stewart after her stock market problems a couple years ago, stock selling problems. she was more or less like a creative executive but not the ceo of the company. so that is, those are the range of remedies, if that is where it goes. we should point out mr. musk has another side of the story.
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he thinks what he said is perfectly okay in that he, having a conversation with the saudi wealth fund and then, indicating that they like potentially to do a deal, to take them private is suffices for funding secure. so we'll have to see. the news is, it is now a formal investigation and subpoenas are flying. back to you. melissa: charlie gasparino, thank you so much. great reporting. charlie and. ed to and heather are back with us. they were really mad because you can't say something like this unless the deal was signed and if we had done it we would be in jail. i was kind of surprised to hear that reaction. that is how people felt. what due think. >> charlie had it right. he reock the story hour ago. i know smart people really do dumb things. if he secured funding i don't see why you can't use twitter a
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public and free outlet but probably not the wisest way to use it. or you preannounce that after market hours, before the market opens or after the market closes, that you have a big announcement a stocks-moving announcement coming that would have been the better way to handle it given that he has secured funding which we don't know. melissa: todd, there is big difference between talking to someone, yes, we want to help you take the company private, yes that idea sounds great and actually having the lawyers sit down and hammer out the documents and signing them at which point it would be secure. do i think those two things are the same things? do you think that he is over the line with having had everything signed or maybe this was just an agreement in, you know, conversation and not far enough? >> i think this was way over the line and i hope they really investigate deeply into him because i think there whole manipulation through twitter is never a good thing no matter who is doing it. i don't think using twitter to
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make a major announcement is going to help anybody. i hope there are a lot of lawsuits. i personally benefited from the news but i'm concerned that we start to see some of these announcements come through twitter that are stock-moving announcements that if anybody wanted to insider trade, a guy like elon musk, if he told friend about it before he made the statement they would all benefit. there feeds to be heavy investigation into this. >> i guess the point, i hear you, i think the point is because twitter is public is that okay to use that? i'm not even sure that is illegal. the president uses it all day long. >> like greenmail. i think it is -- melissa: twitter as much as saying secured, when that is not what it necessarily was. you may have an agreement in principle but you haven't hammered out the details and you don't have the documents. that is a really big difference and he may have possibly been conflating the two. we have got to run. we'll talk about this again no doubt. thanks, guys. david: talk about stocks moving.
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cisco is moving after-hours. they came out with their quarterly report. nicole petroleum is here with the numbers. they are loving it. -- nicole petallides. >> this is what i was talking about in the review in the 3:00 p.m. they hadn't seen something like that in couple years. they brought on chuck robbins in 2013 to help turn this company around. they have a beat on earnings and beat on revenue as well. 70 pence versus estimate of 69 cents. revenue, 12.84 billion versus 12.77 billion. the stock is up and climbing, he is working very hard to turn it from traditional supply, switches and routers business into a growth area, cloud, internet, all things cybersecurity. they made a recent acquisition. we heard from the ceo talking about strong finish for the year. highest quarterly revenue. chuck robbins also added our strategy is working.
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we believe we're well-positioned to capture growth. they made their acquisition in cybersecurity. they're setting up to get out of the hardware, more into the software because that has recurring revenue. that has subscriptions. that brings in revenue over and over again. last thing i tell you, morgan stanley talked about the hardware and talked about the older types of equipment and in fact there is cash on hand and they need a refresh. so that's good news for them as well. cisco up 2.9% just while i was talking. back to you. david: the stock is now up 3%. so nicole petallides talking up the stock there. meanwhile they're talking up mexico now inside the beltway. looks like there may be a deal. this hour the mexican delegation is meeting with the u.s. trade rep in d.c. edward lawrence on the scene with the latest. are we close to a deal, edward? reporter: very close to a deal depending who you ask, very, very close to a deal. mexican economy minister walked in about six minutes ago for a meeting with u.s. trade
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representative robert lighthizer. the one thing the mexican economy minister said they did not address last week was the sunset clause. that is one of the last issues they will be looking at. now the president tweeting for his part in this saying, quote our country was built on tariffs. temporary riffs are leading us to new trade deals. he went on to say other countries should not be allowed to steal the wealth of our great usa no longer. my trade sources say once they make a deal with mexico's part of the nafta agreement, they will present it to canada. canada can sign on or not. president in the past says he prefers bilateral agreements. some members about congress agree. >> i like the bilateral approach that this president is taking because he is going exactly at our trade partners saying we need fair trade. we'll be fair with you but you have to be fair with us and that's good for us. reporter: now as close as we are on nafta, china that's another story. there has been no meeting
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scheduled, no talking back and forth, just posturing at the moment. still year-to-date the chinese economy has suffered more than ours. in fact if you look at the s&p it is up 5.6%. the shanghai composite down 16% over that same time frame. in fact the finger pointing already started in china. the newspaper this morning came out saying that ministry of commerce didn't have enough trade representatives, veteran trade representatives in their ranks. so therefore they were not giving good advice going up the ladder. david: everybody is going like this over in china. looks like they may be ripe for a deal too. edward, thank you very much. good stuff, appreciate it. melissa. melissa: a major move from the trump administration. scrapping the security clearance for cia chief john brennan, because of wild outburst against the president. we have breaking details from the white house next. david: the senate is back from recess. president trump's supreme court nominee meeting with two red state democrats on capitol hill
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today. later this hour, brett kavanaugh will meet with republican senator ron johnson. why these face-to-face meetings really are all about the midterm elections. melissa: and socialism is now mainstream in america, at least according to bernie sanders. ♪ for drivers with accident forgiveness liberty mutual won't raise their rates because of their first accident. ♪ liberty. liberty. liberty. liberty ♪ it's a revolution in sleep. the new sleep number 360 smart bed, from $999... intelligently senses your movement and automatically adjusts on each side to keep you both comfortable.
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david: the white house throwing the press corps off the issue of omarosa at least for the moment by announcing it is revoking former cia director john brennan's security clearance, plus new reactions on turkey's tariffs and the unfolding crisis in that country. slightly shell-shocked blake burman is standing by at the with the very latest. hi, blake. reporter: shell-shocked we didn't see it coming. but not shell-shocked because we're used to that around here,
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right, david? you have to always be on your toes. this came from sarah sanders started press briefing which the president announced he decided to revoke the security clearance for the former director of the cia. hejohn brennan ran the spy agency in the second term of the obama administration. he has been one of staunchest critics. president trump says it is about protecting the nation's classified information. it is reviewing security clearances of several high-ranking officials during the obama years. adding three more names to the list, peter strzok, lisa page, bruce ohr. critics say this is nothing more than an attempt for those that do not like the president. the white house contending this is not politically motivate the. >> seen going after his political opponents were this? >> no, if there were others deemed necessarily we'll take a look and review those as well. reporter: turkey retaliated against the united states
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putting out half a billion dollars worth of tariffs from american cars, alcohol, rice and beauty products. the country's trade minister explaining it with the following. trade wars help no one. turkey will do what is necessary to help our industries and economy from assault. president trump announced he would increase tariff levels of steel and aluminum with turkey saying at time our relations with turkey are not good. despite that press secretary sarah sanders said the tariff escalation has nothing to do with andrew brunson the pastor who has been detained in the country since 2016. >> the tariffs in place on steel would not be removed with the release of pastor brunson. the tariffs are specific to national security. the sanctions, however, that have been placed on turkey are specific to pastor brunson and others that we feel are being held unfairly and we would consider that at that point. reporter: brunson was in a turkish courtroom, david,
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earlier today, he lost his appeal to be freed from that country. david? david: he has been very badly treated. blake, thank you very much. good stuff. melissa: here is peter brookes, heritage foundation senior fellow. former deputy assistant secretary of defense for asia and pacific affairs. sir, thank you for joining us. what is your read on the situation with turkey right now? >> it is pretty intense and i think a lot of interests on both sides that need to be talked about. turkey is an important ally of the united states. troublesome right now obviously but we have is bas -- bases in turkey. it is nato aloe. work with us with the war against isis. worried about playing with russia. they bought air defense systems. people are concerned about transferring f-35 aircraft to turkey because of the relationship. we're on the outs over syria. we've used a group in syria, kurdish group to fight isis.
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turkey considers them to be related to a kurdish group in turkey. so there are a lot of issues and tensions but this is a important relationship. i hope besides the pastor which you mentioned and the economic issues we can move past this at some point. melissa: move past it, but sort of under, how do you do that? because as you look at all the things you talked about right there, you lay it out, our relationship has gotten strainedded. they haven't been a great ally of late. they have had a lot of muslim extremism in the country as well. this is sort of the final straw. the idea that they're hanging on to an american? if you look at the president the way he dealt with people, that has been sort of step one is return americans immediately. do you think that's his approach to this situation as well? that is sort of the first issue to get started on? >> yeah i think would help get both countries on exit ramp to
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the mini-crisis we have going on. i feel turkey is scapegoated the united states for its economic problems. any of your economic analysts will tell you that the problems turkey has had economically goes back a long way. it has to do with artificially low interest rates, foreign debt, inflation. there is a number of issues here that turkey needs to think about in terms of economic reform but i think both countries are looking for an exit ramp to get rid of this crisis. i know national security advisor john bolton has met with the turkish ambassador here in washington. i'm sure our ambassador in ankara is also doing the same. i think the release of the pastor would certainly help to move things in the right direction. there is a lot of things, as i mentioned, melissa, to talk about. melissa: seems like the tension is rising higher and higher when you add the sanctions and the tariffs and add the rhetoric. that it is just getting ratcheted up by the day and there is no sign of return in
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the other direction. is there anything beside returning the pastor that would begin a de-escalation and stop the escalation? >> well, you know, it's hard. erdogan has certain policies that we have problems with. he is the president of turkey. he centralized a lot of powers of the presidency during recent elections. melissa: very authoritarian. >> there has been a regression in democracy. some people who follow democracy around the world, say the biggest regression in the democracy in the world last year was in turkey. so there are opportunities but it is a important relationship. so we don't want to cast it aside. think about it strategically. this is a country that bridges asia and europe. it is a nato ally. think about the history there, the truman doctrine, the cuban missile crisis. we removed missiles, jupiter missiles from turkey as part of the cuban missile crisis to ramp that down. this is a important relationship. we have two strong leaders here,
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president trump and president erdogan. hopefully their folks can work together to de-escalate the situation as it stands now. melissa: peter brookes, thank you for your insight. >> thank you for having me. david: taking on capitalism. democratic senator elizabeth warren has a new plan out. did you hear this? to put corporations directly under the thumb of federal bureaucrats. melissa: what a great idea. david: what would that do to the economic boom we're experiencing? we'll talk to jeff diehl, a republican candidate for senate in massachusetts. hopes to take on senator warren in november. he is coming up. touting america first, why vice president mike pence says america is back, getting a lot stronger. that's next. ♪ e with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that.
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melissa: putting america first. vice president mike pence delivering remarks in des moines, iowa, touting america first policies and renewed faith in the u.s. under president trump. >> our administration has taken renewed steps to insure american
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leadership and dominance on land, sea, air and space. [applause] the truth is the american dream is working for every american once again. david: meanwhile elizabeth warren has a dream of her own. the massachusetts senator seeking to fundamentally change the structure of capitalism in this country, saying in a "wall street journal" article today that quote, companies, shouldn't be accountable only to shareholders. she has put together a bill that would force large corporations to get new federal charters. this would open up companies to a whole slew of lawsuits and federal interference. here now is someone who hopes to take on elizabeth warren for her senate seat in november. geoff diehl, republican candidate for senate from massachusetts. he joins us now. geoff, what do you think elizabeth warren's manifesto, if you will be will do to the economy here in the united states? >> first of all look at her history. the fact is, david, she already
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vowed to repeal the tax reform given not just the country 4.1% gdp but also massachusetts has country leading low unemployment, 3.5%. we're seeing $1.2 billion in new revenue in massachusetts based on corporate growth, new hirings, wage increases. that is translating into more revenue for our state government. she wants to repeal that we also saw a week or so ago, she was on a national network talking about the fact she is opening to inreesing individual marginal rate, anywhere between 50%, somewhere to 90%. we're already getting her view into socialist type of america. david: i was just going to say, the point is we have a economic boom here, mostly because of the fact we pulled the government out of the economy, both in terms of lowering the tax amount that they get in taxes and also by taking away some regulations that they have had to adhere to. she wants to go exactly the opposite direction. what do you think that would do to the economy if we adopted her
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plan? >> well, look, our economy is on fire. she wants to be the fire extinguisher obviously. that is the plan she has. of course all of this, a bigger government is the way to go. she thinks increasing taxes will create the government she wants to see, which is single-payer health care, which we found out by the way has $32.6 trillion price tag associated with it. she wants obviously free college tuition for everybody. this is professor that was getting paid $350,000 to teach one course at harvard. david: that is a good point. david: on other hand it is massachusetts. people think a little differently there. they vote a little differently there. is this going to hurt her with the massachusetts voters? >> well, you know of course companies right now are enjoying a huge boom, not just in massachusetts but around the country. of course nobody agrees with her creating another piece of government bureaucracy. the consumer financial protection bureau was just ruled in june to be unconstitutional.
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something she took pride, authorship of. that is her way of thinking. there can't be enough government to smother business and growth here. massachusetts certainly doesn't want to see her continue with this path. in fact she made statements last week also beyond just her economic vision. she said that the entire criminal justice system of massachusetts is racist, around the country is racist from front to back. that has a lot of people in massachusetts very upset. david: i'm sure it did, but again the odds are in her favor for the moment. we wish you the best of luck. i have to switch to one subject because as a beer drinker this concerned me. hard to think of anything more sacred in the minds of people from massachusetts, maybe the sports teams but sam adams beer. it's a wonderful beer. i love it. i buy a case of it every time i go up there because it is a little cheaper there, but there is a mayor in massachusetts who is boycotting the beer because its founder thanked president trump for tax cuts. what will happen to that mayor?
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somerville mayor, joe kev curtatone i think is the name. >> he is also the same mayor declare sanctuary status for his mayor of somerville out of line with the main thinking of massachusetts. boston beer, jim cook was a pioneer with the craft beer industry. has 2% market share around the country which is fantastic. he is competing with 85% of market share of foreign brewers who make american domestic beer. he is up against it. a mayor of a massachusetts city, speaking against really popular beer manufacturer in our state that employs 1000 people. i think it's a mistake for politicians, especially the mayor to knock a brewery that stands for massachusetts. david: not only a great beer, but a great success story. geoff diehl, best of luck to you. appreciate it. >> take care. melissa: supreme court nominee brett kavanaugh coming
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face-to-face with two red-state democrats ahead of optimistic october 1st deadline for confirmation. we're live on capitol hill with the details. the left and nancy pelosi, are recent primary wins are a hint the blue wave simply can't happen? year, i am sorry about that.
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face-to-face with two red state democrats, heidi heitkamp of north dakota and chad pergram is there on capitol hill. somebody has to do it. chad likes to do it. hearings don't begin until after labor day, right? why all the business right now? >> they're trying to get through as many meetings with senators. today they will met with 50, one-half of united states senate, only three democrats. you talk about the swing state democrats, heitkamp and donnelly represent red state. they both voted for neil gorsuch to confirm them. they chase real challenging election bid this is fall. not like them voting yes, unclear if they will, helps them in their re-election efforts but inoculates them from attacks and other criticisms from the right if they do in fact vote yes. david: warning to nancy pelosi and other establishment types inside the beltway in the democrat party, progressive candidates bouncing back in key
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races last night. joe ding kin campaign director for leftist working families party. he said, tonight's results are nothing less than size i can. you can feel the progressive earthquake from milwaukee to danbury, to burlington. a new generation of trailblazing progressives are running and they are running without the backing of any political machine. so, chad, what do the political machines inside the beltway think about this? >> that is something they do like because they think it will get a lot of democrats to the polls but it is not in those urban areas where democrats have to win. they have to win in rural areas. a good example was the special election in ohio. they have a suburban part of it. david: chad, want to take you out of the weeds to bring you to nancy pelosi. she is the not progressive type they're talking about. does she realize her job is in danger as a leader? >> absolutely she does. that is the problem they have
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right now. they can't beat somebody with nobody. they have to see if they get the house back, keep in mind, if nancy pelosi does in fact run, there is nobody still despite the criticisms from both moderates and liberals in the democratic party who has more sway on capitol hill than nancy pelosi. she is better-liked than any other potential candidate out there, that includes steny hoyer the whip, jim clyburn. if any of those people ahead of her were to step away or behind her were to step away, and pelosi would step away i look at hakim jeffries from new york, he might be a possibility. mark pokan from which is. you can't beat somebody with nobody. i point out the jim clyburn situation. because he is supported by the congressional black caucus. that is 40 plus votes. they will probably vote as a bloc. they would probably gravitate toward him if pelosi and hoyer would step aside. david: she is formidable character. no doubt about it. bombshell announcement from
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sarah sanders at the podium that this guy, the former head of the cia, john brennan will lose his security clearance. never been done before. there are questions about his role in pushing this trump dossier, even before the fbi had it. there are questions about when he knew and what he knew about the spooks who were behind putting that together, particularly if any russians were involved. the president said in announcing the fact that he is security clearance is being removed, he said any benefits that senior officials might glean from consultations with mr. brennan are now outweighed by the risks posed by his erratic conduct and behavior. to which the folks inside the beltway are saying what, chad? >> i just talked to mark warner from virginia. he is the top democrat on the senate intelligence committee and was asked about that very remark and statement from the president and he said does this white house ever look itself in the mirror? warner raised some questions.
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he called this nixonian. it sounds like an enemies list. these are the water gate terms. he wondered allowed if the next target to have the security clearance pulled might be robert mueller. he said this is effort to distract from the investigation, manafort trial and omarosa. david: robert mueller for the record has never said anything political as john brennan. cia directors, kind of fade away. they don't come out and play politics the way john brennan has. chad at any rate, thank you very much. good stuff. appreciate it. >> anytime, thank you. melissa: disaster in italy. emergency crews are desperately searching for survivors after that terrifying bridge collapse. we have a live update from italy. that's next. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees
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david: breaking news. we were just talking about president trump revoking john brennan's security clearance. the ex-cia director is tweeting of course, be quote, this is broader action by mr. trump to
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suppress freedom of speech and punish critis. it should gravely worry all americans including intel professionals about the cost of speaking out. my principles are worth far more than clearances. i will not relent. melissa: looking for survivors of the bridge collapse in genoa, at this italy. it killed 39 people. here is fox news's amy kellogg. amy. reporter: melissa the death toll is expected to rise. three of the dead were children. number injured 16. nine of those in critical condition. tragically still lots of people are missing. we don't know the numbers. may be something like 10. in any event rescue workers say this is so much more difficult than what they're used to. the pieces of debris when they go to a earthquake in italy, they had plenty of those over the years are much smaller. they often know who they are looking for and where. we've been hearing heartbreaking stories of family members of the
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dead and equally tragic ones for people waiting in hospitals to learn news of missing relatives they fear were on the bridge in genoa when it collapsed. people are caught up going into daily routines. others were heading with vacation destinations for the holiday which is today today in italy this is iconic. the last vehicle standing by a stroke of luck. it managed not to fall when the bridge collapsed. according to the man behind him on the highway, that man says a car overtook this green truck, causing it to break. that car, which overtook the truck went over the edge and the truck was able to stop and save itself by just a hair. some of the other problems, melissa, that people are looking at now in genoa, 650 of them rendered homeless. their houses were at the edge of a section of bridge that collapsed, were not hit, but no longer stable, getting genoa back in action after the holidays is difficult.
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the a-10 highway over the bridge went is very critical transit road and, genoa is italy's largest port. that will will be a challenge. the new government says it wants to reprivatize the highway. that part of a-10 is controlled by a private company of the benetton group. what caused the bridge collapse, it is still believed that it was a structural problem. we know that. but the prosecutor of genoa is saying this was not destiny but rather human error that caused the tragedy. melissa. melissa: amy, thank you for that. wow. david: awful. it could happen here so, let's hope we check our bridges. meanwhile bernie sanders wins big. the senator claiming a victory in vermont and declaring socialism is mainstream? is he right? we're diving into that issue right after a short break. ♪ alerts -- wouldn't you like one from the market
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melissa: standing by socialism. >> maybe, maybe there is a little, there is a little taint to socialism that turns people off? >> i don't really think so. i think the real issue is that the ideas that we have been talking about almost without exception, stephen, are now ideas that are mainstream ideas that are supported by the vast majority of the american people. melissa: yeah. okay, dan mitchell, center for freedom and prosperity cofounder, kristin tate, conservative commentator author of how do i tax thee? supported by majority, socialism, what do you think? >> first a technical thing. socialism is government ownership of the means of production. government steel factories, collective farms. bernie sanders isn't talking about socialism.
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he is talking about more just a traditional left-wing agenda in the most cheerful attitude, it is sweden. in reality greece or venezuela. as an economist it is important to make sure we understand the definition. melissa: kristin, is there a taint to socialism? do the majority of americans think it's a great thing like bernie thinks? >> i think some naive, economically ignorant voters on the far left will like this socialism message and sadly these types of voters make up a significant portion of the democratic party today. a new gallop poll found 57% of democrats view socialism postively. i have to tell you, melissa, the vast majority of americans, including independents and pod rat democrats are terrified of socialism. they see what is going on in venezuela and parts of europe. socialism doesn't work and these left-wing socialists are due for a wake-up call in november.
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melissa: dan, bernie sanders thinks everything is free. get free stuff. >> he has a warm and fuzzy version of redistributionism. at the end of the day it leads to worst economic performance. take the best case, sweden, growing one to 2 1/2% a year. half of traditional historic american levels. the bigger we make big government, not true socialism, do more freebies, eroding spirit of self-reliance and imposing value-added taxes and more protectionism, the whole bernie sanders agenda, that will mean a poorer, weaker america. melissa: i wish we had more time, guys. thank you so much. david? david: socialism continues to gain ground among democrats we hit the streets to see what folks in the street think about it. that's next. fact is, every insurance company hopes you drive safely.
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>> how would you define socialism. >> movement today equality.
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>> distribution of wealth. >> if government gave you a stipe en per week, would you still work. >> i think so. >> yes. >> i would still work, i feel i would need to contribute to the society. >> i would because that is my nature, that how i was raised. but i don't want to pay som for someone who chooses not to. melissa: they walk outside and they found that many logical people, more logical than half our politiciansis. david: bottom line politicians work for government they don't get it, that person dead don'tt to work hard for someone that wants to sit on their duff. melissa: socialism means government ownership of all resources, people are getting away from what it means, of course, bernie sanders is excited, he is a politician, he
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would own all of the resources. david: you also get lack of freedom, the government decides what job you get, what you can and can't do, i think that americans like freedom more than socialism. melissa: there you go we solved it, thank you for joining us. the "evening edit" starts now. >> erdogan has raised tariffs. >> turkey mess drags on. >> erdogan transformed a so-called nato country to a theo crease. >> country labeled by almost everyone human right organization they treat journalists the worst, imprisoned thousands of journalists. >> erdogan saying that u.s. is waging a war on turkey economy and stabbing turkey in the back. >> we have a converted effort to put them

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